Nanophase posts record Q1 revenue of $9.5M, up 16% YoY; gross margin improves 4%

SOLESENCE, INC.

2023-Q1 EPS reported -$0.02 revenue$9,457,000

Q1 2023 revenue $9.5M vs $8.2M in Q1 2022, a 16% increase.
Gross margin improved 4% quarter-over-quarter, with 2% from labor savings.
March achieved lowest labor cost as a percent of sales since 2021.
Combined $20M in open P.O.s and shipped orders; two-thirds expected as Q2 volume.
Company expects to deliver quarterly profits going forward leading to profitable 2023.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

SOLESENCE, INC. reported the first quarter ended March 31, 2023 results: revenue $9.5 million.

Period: the first quarter ended March 31, 2023
Revenue: $9.5 million
Result: reported results

Exact text from the filing

our profitability in the near term while supporting the continued growth and success of our brand partners.” First Quarter Financial Highlights Revenue for the first quarter was $9.5 million, vs. $8.2 million for the same period in 2022, a 16% increase. On revenue, quarter over quarter gross margin was up 4%, with 2% due to labor savings. “We had a combined $20

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Source: SEC EDGAR

accession 0001171843-23-003227

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